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-- or not pay taxes. >> narrator: for years, the italian authorities could do nothing. but when tough banking regulations were imposed across europe in the wake of the financial crisis, only the vatican bank resisted. so the italian finance police put the bank under close surveillance. using all the tools at their disposal, they monitored transactions in and out of the vatican bank. they made their first breakthrough in the summer of 2010. >> (translated): in that case, it happened that an italian bank received a request from the ior to transfer 23 million euros. the bank of italy requires details for both payee and recipient in the transaction and the reason for the transfer. the ior failed to provide adequate information, so the bank of italy decided to freeze that money. >> narrator: the whole european banking community was up in arms. with account holders that included the iranian and iraqi embassies, there were fears that the bank could be used for money laundering. one bank after another refused to do business with the vatican bank until it cleaned up its act. the pope was increasingly
Search Results 0 to 3 of about 4 (some duplicates have been removed)